KiwiSaver fees in New Zealand will hit a billion dollars this year. Sam Stubbs has been the loudest voice in the country saying that's a scandal and building something to prove it doesn't have to be that way.

Sam is the founder and CEO of Simplicity, an $11 billion KiwiSaver fund owned by a charity. It makes almost no profit. It is worth essentially nothing. It can never be sold. That's the point. When you ask people to trust you with their retirement savings, being unbuyable turns out to be an extraordinarily powerful thing. Before Simplicity, Sam was at Goldman Sachs listing Chinese companies on the New York Stock Exchange, flying on the Rolling Stones jet, and having lunch at the Ritz in the same room where Princess Diana dined the week she died. He made all the money he needed by 50, felt nothing from it, planted trees on an island for  ...